Litecoin Grows 655% in Just Two Months

Litecoin, a cryptocurrency that enables instant payments to anyone in the world, is experiencing a massive level of rapid growth.

The cryptocurrency has gained 655% in a two month period, growing from a value of $3.98 on March 7th, to 30.06 on May 7th. This is according to Coinbase.com, one of the world’s most popular platforms for purchasing and selling cryptocurrency.

Litecoin’s single-month growth is also massive, gaining 183% from 10.59 on April 7th, to the previously mentioned 30.06 on May 7th.

According to Litecoin.org;

Litecoin is a peer-to-peer Internet currency that enables instant, near-zero cost payments to anyone in the world. Litecoin is an open source, global payment network that is fully decentralized without any central authorities. Mathematics secures the network and empowers individuals to control their own finances. It features faster transaction confirmation times and improved storage efficiency than the leading math-based currency.

Some legal marijuana outlets in Washington are already accepting Bitcoin for marijuana sales, with approval from the state. This makes cryptocurrencies such as Litecoin relevant to the growing marijuana industry, which must deal with the fact that most banks won’t work with them out of fear of federal persecution.

Ethereum, another cryptocurrency, is also experiencing a rapid increase in value, growing from 11.43 on February 7th, to 93.64 on May 7th; an increase of 719% in just three months.

Anthony Martinelli

Anthony is co-founder and Editor-in-Chief of TheJointBlog. He has worked closely with numerous elected officials who support cannabis law reform, including as the former Campaign Manager for King County (WA) Councilmember Dave Upthegrove. He has been published by multiple media outlets, and is a former contributor for Village Voice Media.

Anthony can be reached at TheJointBlog@TheJointBlog.com.

1 comment

This line: “Some legal marijuana outlets in Washington are already accepting Bitcoin for marijuana sales, with approval from the state. This makes cryptocurrencies such as Litecoin relevant to the growing marijuana industry, ” doesn’t make sense.

If the state has approved the use of Bitcoin by marijuana dispensaries, what does that have to do with Litecoin? Did the state also approve Litecoin? Or dispensaries using Litecoin? Are customers buying with Litecoin? Do you need to buy Bitcoin to get Litecoin or vice versa?